Hi Romit! Informative as always. Just wanted to add a couple of things I've been noticing after following the industry here.
Multiplex owners and chains have resorted to a wide variety of tactics to get their point across. Initially releasing strongly-worded statements as you said, they then explored drive-in screenings and outdoor cinema as alternatives.
Then, the PVR chairman said that he was confident that people's decades-old viewing habits would not change in 5-6 months. Despite such firm assertions, the multiplex associations have been advertising in newspapers, asking why cinema halls continue to be locked down under every successive "unlock".
They have also been asking for financial bailouts from the government. However, PVR's rights issue in August was still oversubscribed nearly 2.5 times, so maybe their confidence isn't completely misplaced. Interesting to see how it plays out.
Hi Romit! Informative as always. Just wanted to add a couple of things I've been noticing after following the industry here.
Multiplex owners and chains have resorted to a wide variety of tactics to get their point across. Initially releasing strongly-worded statements as you said, they then explored drive-in screenings and outdoor cinema as alternatives.
Then, the PVR chairman said that he was confident that people's decades-old viewing habits would not change in 5-6 months. Despite such firm assertions, the multiplex associations have been advertising in newspapers, asking why cinema halls continue to be locked down under every successive "unlock".
They have also been asking for financial bailouts from the government. However, PVR's rights issue in August was still oversubscribed nearly 2.5 times, so maybe their confidence isn't completely misplaced. Interesting to see how it plays out.